New Altcoin “Supported” by Vitalik Buterin Makes 1,000 Percent!

The altcoin project that Ethereum co-founder Vitalik Buterin talked about recently came true. But beware, more than half of the token supply stands at 50 addresses.

Altcoin “supported” by Vitalik Buterin appeared

Vitalik Buterin’s idea to create tokens that would be a problem for scammers and bots came true. On October 15, Buterin published a tweet recommending the creation of a new crypto project to be named “THE Protocol”. In this way, investors using THE hashtag will stay away from scammers.

Altcoin made 1.000% in a short time

The idea came to life shortly after Buterin’s proposal. The token contract for “THE” was created hours after the tweet and mass assembled, earning 1,000% at its expense.

In precedent for the Shiba Inu, the creator of the token decided that it would be fair to send a measure of “copyright fee” to the person who created and shared the idea. Ten percent of THE’s total supply was handed over to Vitalik Buterin shortly after its creation.

Attention, 50 addresses hold more than half of the token supply

Currently, more than half of THE’s supply is in the hands of the 50 largest addresses. Large Ethereum whales also used their baht for the newly emerged token. Known investors such as “Sisterofvitalik” and hxr.eth bought the token. However, a number of large addresses began to sell despite the lack of effective sales from top addresses and personal investors. This shows how careful investors should be with tokens like THE, which has become the object of market manipulation.

Currently, approximately 41 million THE tokens are circulating on Uniswap and MEXC. As such, DEX platforms make them the largest markets for THE token. Numerous Blockchain and research platforms are issuing warnings when identifying the token.

Elon Musk commissioned this bot analytics in his effort with Twitter

Spam and invalid accounts are more common on Twitter than any other social platform, according to a data analytics firm that Elon Musk hires as part of his legal battle with Twitter. Cyabra’s argument is that 11% of Twitter’s total user base is claimed to be bots.

Bots on Twitter have been at the center of the dispute over Musk’s first attempt to get out of the buyout deal. Less than three months after signing the agreement, Musk gave up on buying Twitter. Later, executives sued Musk for manipulating his Twitter shares. In this context, statements containing Dogecoin appeared in the middle of Elon Musk and former CEO Jack Dorsey. Behind Musk’s sharp U-turn lies Twitter’s deceptive bot count. Koindeks.comAs you follow, Elon Musk later returned to buy Twitter.

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